Russian gas exports to Europe have dropped by a lot more than 82% in a single year, in accordance with Spain’s Energy Transition Minister Teresa Ribera.
“In only per year, the flow of gas from Russia fell by a lot more than 82%. Actually, in January 2021, supplies from Russia accounted for approximately 40% of the gas consumed in Europe. Right now, this figure will not reach 10%,” Ribera was quoted as telling a Spanish broadcaster on Friday.
Spain, which will not be determined by Russia for gas supply, has sufficient resources to greatly help its closest neighbors, France and Italy, the Spanish minister added.
Earlier this week, Ribera said an existing gas pipeline from Spain to France via the Pyrenees has boosted its capacity by 18% and may be utilized immediately if France requests it. The interconnector which passes through Irun has successfully completed the technical start-up tests to improve capacity by 18% over current levels, meaning that if fully employed in the direction of France, the interconnector could provide 6% of France’s gas consumption.
Russia’s gas exports to europe this year are anticipated to decline by 50 billion cubic meters (bcm)or by one-third of last year’s volumesRussian Deputy Prime Minister Alexander Novak said the other day.
Russia has drastically cut gas supply to Europe because the invasion of Ukraine, with cuts to gas deliveries culminating (up to now) in the shutdown of the Nord Stream pipeline to Germany. Russia said earlier this month that the main element gas export path to Germany wouldn’t reopen until Western sanctions impeding gas turbine repairs in the West aren’t lifted.
Europe, because of its part, is seeking to diversify gas imports from Russia, and contains were able to reduce its gas reliance on Putin materially.
“This past year, Russian gas accounted for 40% of our gas imports. Today it’s right down to 9% pipeline gas,” European Commission President Ursula von der Leyen saidin the 2022 State of the Union speech the other day.
By Charles Kennedy for Oilprice.com
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